More than 10,000 Oregonians who get their health coverage through the state's Health Republic Insurance Company don't need to worry, according to the Lake Oswego-based firm. The company is not connected to a similarly named insurer that's being shut down in New York.

On Friday, state and federal regulators shut down Health Republic of New York, saying its finances were too shaky to continue.

But Health Republic in Oregon is a separate company and what happens in New York has no effect on it, CEO Dawn Bonder said.

"We are strong and we are sticking to our plan, which has always been slow and steady growth. We're very financially stable," Bonder said. "We see a long,healthy life in front of us."

The two companies had similar origins. Both were consumer-run nonprofit plans set up with large federal loans in 2014, part of an Obamacare initiative to boost competition. They were set up by the Brooklyn-based Freelancers Union and initially paid a spin-off company of the Union for back-office support.

But the Oregon firm severed its ties in January 2014, said Bonder. "We're all on our own now."

According to Oregon Insurance Division reports, as of June 30 the company had about 4,700 enrollees in the individual health insurance market, and more than 5,400 enrollees in small group employer-based plans.